Weekly summary 8th – 12th July $EURUSD, $USDJPY, $GBPUSD

Weekly summary 8th - 12th July  $EURUSD, $USDJPY, $GBPUSD

Of the 5 Box set setups placed last week, 2 were never triggered as price either did not reach The Box or did not exit it in the direction of our trade idea. The 3 remaining trades were at their peak, profitable to 174 pips, however two of those trades closed at break even. The final trade closed for 35 pips profit.

Whilst you can never capture 100% of the pips on offer, only capturing 20% (35 from 174) is disappointing as I would be aiming for around 50%. This lower conversion rate is caused by setting a more aggressive profit target than the market moves justified. IF (famous trading word!) we had set profit targets of around 50 pips on each trade, we would have captured a total of 150 pips from the 3 trades which would have been very healthy! On the other hand had the pairs made a larger move we would then have missed out! Next week I am going to set profit targets of 50 pips and see what happens.


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